PhonePe to acquire Indus OS in all-cash deal worth $60 m
May 19, 2021
The digital payment service PhonePe - Bloomberg×
This is the digital payment platform’s second acquisition after Zopper Retail
Walmart-owned digital payments platform Phone Pe is in the final stages of talks to acquire Indus OS, a made-in-India content and app discovery platform, in an all-cash deal worth $60 million. The acquisition is scheduled to be completed in the next few weeks and is PhonePe’s second acquisition after Zopper Retail which it acqui-hired in 2018.
The acquisition is expected to fuel PhonePe’s super app ambitions. Currently, PhonePe ‘Switch’ that aggregates over 400 apps across verticals including food, grocery, shopping, travel apps within its own app, does away with the need to download apps individually. Users can log into these apps without downloading them with a single tap.